Luxembourg - Corporate Tax Proposals

July 14: The government's council on 10 July 2015 approved a bill of tax proposals that would affect most multinational groups having subsidiaries in Luxembourg.

Text of the bill is not yet available, but according to a press release from the government, among the measures included in the bill are the following:

Provisions to transpose into Luxembourg law two amendments to the EU Parent-Subsidiary Directivei.e., the anti-hybrid rules and the general anti-abuse rules. Changes to the tax consolidation regime to allow eligible sister companies to form a tax unity group (so-called "horizontal" tax unity) Expanded scope of the investment tax credit (bonification d'impôt pour investissement) to allow the credit with respect to leases of ships used in international commerce Expanded scope of taxpayers eligible for the deferral of tax payments with respect to transfers of a company or a permanent...